The Administration's Making Home Affordable Program has put a couple of great tools on their website that can help answer your questions about a possible Loan Modification. ( Part of HAMP - the Home Affordable Modification Program.)
There is an Evaluator Tool and a Questionnaire.
If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible. To see if you may be Eligible fill out a brief questionnaire. For the evaluator tool go here.
If you are having difficulty - you are not alone - check out some of these resources, for some solutions - and good luck!
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI
Soon as the tax credit ends I would expect the Hamp mods to be the next wave.
Mar 27, 2010 10:27 PM
Realty ONE Group - Coto de Caza, CA
CDPE, SFR, South Orange Co., CA
Hi Randy - that's probably true, along with short sales.
By the way, in California, the Governator just signed bill AB 183, giving California home buyers a new $10,000. tax credit, starting May 1st, 2010.
Mar 27, 2010 10:44 PM
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate
So far, most of these mod programs have been of limited value. Maybe this one will work a little better.
Mar 27, 2010 11:16 PM
Rainer
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Bob Phillips
CDPE, SFR, South Orange Co., CA
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